A Certain Country's Consumer Price Index Is Approximated by A $\mathrm { A } ( \mathrm { t } ) = 100 \mathrm { e } ^ { 0.024 \mathrm { t } }$

question 124

Multiple Choice

A certain country's Consumer Price Index is approximated by A( $\mathrm { A } ( \mathrm { t } ) = 100 \mathrm { e } ^ { 0.024 \mathrm { t } }$ , where t represents the number of years. Use the function to determine the year in which costs will be 50% higher than in year 0.

• A) year 13
• B) year 15
• C) year 19
• D) year 17

---

Definitions:

Gross Savings

The total amount of savings accumulated by the economy before depreciation is taken into account.

Trade Deficit

A condition in which the total cost of goods and services a country buys from abroad is greater than the total cost of goods and services it sells to other countries.

Trade Surplus

A trade surplus occurs when a country exports more goods and services than it imports, indicating a positive balance of trade.

Goods

Tangible items that are produced or manufactured and can be bought, sold, or traded.